Negotiations Ongoing to Fix Sports Betting Bills in Massachusetts
Legalizing sports betting across the country takes a while, since each state will have to pass their own bills. For states that have legalized sports betting, the terms and provisions vary. Some offer online sports betting, while some are retail only. Some will allow residents to wager on any sport, while others will restrict certain sports. Tax rates will also vary, as well as the licensing fees and renewals. In the case of the sports betting bills in Massachusetts, you have two bills from both houses of the legislation, and the terms are different.
Of course, this is quite normal with any pending bill, regardless of industry. When this happens, both chambers will form a committee to iron out the differences of the proposed bills. And as mentioned earlier, and discussed for quite a few times in our pay per head blog, each betting market has different terms and provisions. The challenge for lawmakers in Massachusetts now, is to compromise on the bills so that they can pass it an before the end of session on July 31.
Sports Betting Bills in Massachusetts
There is currently a joint committee handling this, where they are currently working to get a sports betting bill to the Governor as soon as they can. They are currently working out the key differences in the bills. One of the key differences in the bills is the topic of college sports betting. College sports betting is very popular in our bookie software, but the Senate wants to ban it in their bill.
Another issue is the tax rate. The House wants a 15% tax rate for online operators, then 12.5% for retailers with promo deductions. The Senate wants 35% and 20% respectively, with no promo deductions. There are other issues on the subject, such as advertising bans, licensing and the like. It surely is not as easy as learning how to be a bookie with a pay per head software. But many in the industry are hoping that the House and Senate will find middle ground and finally allow sports betting in Massachusetts.